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BUSINESS
March 7, 2013 | By E. Scott Reckard
Unlike the rampaging stock market, mortgage rates are in a holding pattern, with lenders offering the 30-year fixed loan this week at an average 3.52%, up from 3.51% last week, Freddie Mac said in its weekly survey. The interest rate on a 15-year fixed loan, a popular choice for borrowers refinancing mortgages, held steady at 2.76%, Freddie said Thursday. Borrowers would have paid 0.7% of the loan amount in upfront fees to the lender. QUIZ: How much do you know about mortgages?
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BUSINESS
March 12, 2010 | By E. Scott Reckard
The average interest rate on a 30-year fixed-rate mortgage dropped to 4.95% this week from 4.97% last week, Freddie Mac said Thursday. The mortgage giant's weekly survey asks lenders what rates they were offering -- and the upfront fees they would charge -- for borrowers with good credit and a 20% down payment. Upfront fees averaged 0.7% of the loan amount. The average rate offered on 15-year fixed-rate mortgages, popular as a refinance loan for borrowers wanting to pay off their mortgages faster, was 4.32%.
BUSINESS
May 3, 2012 | By E. Scott Reckard
Stop me if you've heard this before, but mortgage rates are again at record lows, with lenders offering 30-year loans at an average of 3.84%, Freddie Mac's weekly survey shows. That's down from 3.88% last week and a previous record low of 3.87% in February. All of the rates would have seemed unimaginable as recently as 2008, when the 30-year rate averaged more than 6%, or 2009, when the typical rate exceeded 5%.  The 15-year fixed mortgage also dropped to a new record, according to Freddie Mac, the big government-supported loan buyer.
BUSINESS
August 14, 2013 | By E. Scott Reckard
Fixed mortgage rates held steady this week, according to home finance giant Freddie Mac, with lenders offering the 30-year home loan at an average of 4.4%, the same as last week. The average rate for a 15-year fixed loan was 3.44% compared to 3.43% a week ago, which is statistically unchanged. Start rates on adjustable mortgages were slightly higher, according to McLean, Va.-based Freddie Mac. The 30-year fixed rate hit an all-time low of 3.31% last November. The current higher rate would mean a person borrowing $200,000 now would pay $125 more per month compared with a person who borrowed when the rate was at its lowest, said Frank Nothaft, Freddie Mac's chief economist.
BUSINESS
July 21, 2010 | By Jim Puzzanghera and E. Scott Reckard, Los Angeles Times
A congressional investigation has found that Countrywide Financial Corp. made 173 preferential mortgage loans to employees of housing finance giants Fannie Mae and Freddie Mac, which purchased many of the company's loans. The mortgages were made as part of Countrywide's VIP program, known informally as "Friends of Angelo" for former Countrywide Chief Executive Angelo R. Mozilo. The program offered discounted rates and other perks. Previous investigations found that VIP loans were given to some influential Washington players, including Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.
BUSINESS
July 26, 2012 | By E. Scott Reckard
The typical rate on a 30-year fixed mortgage tumbled below 3.5% for the first time this week, Freddie Mac said -- the latest record low in a trend that has fired up refinancings but done little to ignite housing demand. Freddie Mac's weekly survey of what lenders are offering to rock-solid borrowers showed the 30-year rate at an average of 3.49%, down from 3.53% last week. The 15-year fixed loan fell from 2.83% to 2.8%. Borrowers would have paid 0.7% of the loan amount in lender fees and points to obtain the rates, according to Freddie Mac. The survey underscores the success of the Federal Reserve in pushing down interest rates to support a sputtering economy that shows few signs of inflation.
BUSINESS
March 6, 2014 | By E. Scott Reckard
The cost of a home loan dropped early this week on less than robust news about the economy and housing, with Freddie Mac reporting that the average interest rate for a 30-year fixed mortgage was 4.28%, down from 4.37% a week earlier.  The average for a 15-year fixed mortgage was 3.32%, down from 3.39%, Freddie Mac said Thursday in its weekly survey of what lenders are offering to solid borrowers. The average start rate for a popular type of adjustable mortgage with a fixed rate for the first five years edged down from 3.05% to 3.03%.
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